- According to recent data released by SMMT, car production in May this year grew by 13.3% as compared with April.
- The jump was higher in the full-electric cars (EV) as the production of EVs rose by 108% to 4,525 from 2,172 units.
Car production in the UK witnessed growth in May after almost a year after the sector recovered from the pandemic lows. According to the recent data released by the Society of Motor Manufacturers and Traders (SMMT), despite the closure of a significant car plant last year, car production in May grew by 13.3% as compared with April, with 62,284 units being sold.
The jump was higher in the fully electric vehicle segment (EV) as its production rose by 108% to 4,525 from 2,172 units. As per SMMT figures, approximately, 22.6% of cars built in May were alternatively fuelled, which is 19.3% more than last year.
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The overall output decreased by 23% due to issues related to shortages of semiconductors along with other supply chain-related issues. As compared to the last year, only 330,185 units were built in 2022. Around 429,826 cars were produced in the same period last year.
SMMT also revealed that the output was still 46.3% below the pre-pandemic level, despite increased demand in the international and domestic markets.
Investment is an important call. We have picked up three LSE-listed stocks that investors may consider.
Let us look at three FTSE listed stock that you may consider.
Aston Martin Lagonda Global Holdings Plc (LON: AML)
The world’s only independent luxury car group has a market cap of £514.75 million, as of 1 July 2022. The FTSE 250 firm’s shares were trading at GBX 441.70 and were down by 0.07%, at 11:40 AM (GMT+1), on Friday.
On a YTD basis, the company offered negative returns of 67.02% to its investors, while its one-year return was at -76.44%.
Saietta Group Plc (LON: SED)
Saietta Group’s market cap stood at £122.16 million, as of 1 July 2022. The firm, which deals in design development and supply of complete powertrains for electric vehicles, was seen trading at GBX 147.50, up by 2.79%, at 11:48 AM (GMT+1) as of 1 July 2022. On a YTD basis, the company has offered its shareholders a negative return of 41.59%.
Ceres Power Holdings Plc (LON: CWR)
The UK-based fuel cell technology and engineering company’s shares were trading at GBX 558.40, up by 1.90%, at 11:57 AM (GMT+1) on Friday. The company has a market cap of £1,049.81 million. Due to various pandemic-related problems and supply chain issues, the company shares failed to perform. Its YTD return was -44.18%, while its one-year return was -47.38%.
Note: The above content constitutes a very preliminary observation or view based on market trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.